IDC Report: Xiaomi was the World’s Second Largest Wearable Vendor in Q1 2015

Xiaomi may have just entered the wearable market a little less than a year ago, but guess what? They are now listed as the second top wearable vendors IDC’s Q1 2015 report, with numbers that are far more impressive compared to other players such as Jawbone, Garmin and Samsung.

According to IDC’s report, the worldwide wearable device market has been growing steadily, and recorded its eight consecutive quarter of steady growth in the first quarter of this year. A total of 11.4 million wearables were shipped in Q1 2015, a 200% increase from the 3.8 million wearables sold in the same quarter last year.

How do those numbers look like when broken down? The top five vendors listed by IDC sees an increase of at least 100% in shipment compared to the same quarter last year. However, the most impressive is Xiaomi, who shipped 2.8 million units of wearables in Q1 2015. The third largest player, Garmin, only shipped 0.7 million units. This is impressive because to date, Xiaomi only has one wearable, the Mi Band.

Xiaomi is the second largest wearable vendor in the first quarter of 2015, capturing 24.6% market share. Fitbit is the first with 34.2% market share, followed by Xiaomi, then Garmin with 6.1% market share, Samsung is fourth with 5.2% market share, and Jawbone comes in at number 5 with 4.4% market share. We’re not surprised though, the Xiaomi Mi Band costs a fraction of its competitors. Retailing at RM59 on Xiaomi Malaysia’s online store, it is so affordable that anyone can simply buy one to try it out.

Do note though that these numbers does not include the Apple Watch yet, so the next quarterly report for the wearables market will definitely be a very interesting one. How many of you are using a Mi Band now?